Breitburn Energy Partners Announces Trading to Begin on the OTC Market
Breitburn Energy Partners LP (NASDAQ: BBEP) announced that its securities are expected to begin trading on the OTC Pink Sheets marketplace on Wednesday, May 25, 2016, under the symbol “BBEPQ” for its common units and “BBEPP” for its Series A Cumulative Perpetual Preferred units.
Previously, on May 18th, Breitburn filed a report with the Securities and Exchange Commission that trading of its common units and Series A units would be suspended by NASDAQ at the open of the market on May 25, 2016, and that NASDAQ would file a Form 25-NSE with the SEC to remove the company’s securities from listing and registration on NASDAQ. Breitburn does not intend to file a plan to regain compliance or to appeal NASDAQ’s determination.
Despite the transition of Breitburn’s common units and Series A units to the OTC Pink Sheets, there is no assurance that either security will continue to trade on the OTC Pink Sheets, that any public market for Breitburn’s common units or Series A units will exist in the future or that Breitburn will be able to relist its common units or Series A units on any national securities exchange. In addition, there is no assurance that any broker-dealer will continue to agree to provide public quotes of Breitburn’s common units or Series A preferred units or whether the trading volume of either security will be sufficient to provide for an efficient trading market.
Source: Breitburn Energy
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